Key Points
- Insider Anne Evans Kingston sold 7,662 Prothena shares for $64,897 at an average price of $8.47, reducing her direct holdings by 12.08% to 55,782 shares.
- Prothena shares opened at $8.41, down 1.8%, with a market capitalization of approximately $440 million. The company recently reported $0.60 in quarterly EPS, beating the consensus estimate of a $0.31 loss, and generated $51.08 million in revenue.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $23.75, while institutional investors own 97.08% of the stock and several hedge funds recently increased their positions.
Prothena Corporation plc (NASDAQ:PRTA - Get Free Report) insider Anne Evans Kingston sold 7,662 shares of Prothena stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $8.47, for a total transaction of $64,897.14. Following the completion of the transaction, the insider directly owned 55,782 shares in the company, valued at approximately $472,473.54. The trade was a 12.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Prothena Stock Down 1.8%
NASDAQ PRTA opened at $8.41 on Friday. Prothena Corporation plc has a 52 week low of $6.61 and a 52 week high of $11.80. The company has a 50 day moving average price of $9.09 and a 200 day moving average price of $9.43. The firm has a market cap of $440.26 million, a PE ratio of -2.98, a price-to-earnings-growth ratio of 1.37 and a beta of -0.31.
Prothena (NASDAQ:PRTA - Get Free Report) last announced its earnings results on Thursday, May 7th. The biotechnology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.91. Prothena had a negative net margin of 260.92% and a negative return on equity of 43.44%. The company had revenue of $51.08 million during the quarter, compared to the consensus estimate of $0.81 million. On average, equities research analysts anticipate that Prothena Corporation plc will post 0.18 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
PRTA has been the subject of a number of recent analyst reports. Citigroup reissued an "outperform" rating on shares of Prothena in a research report on Friday, May 8th. Citizens Jmp upped their target price on Prothena from $19.00 to $20.00 and gave the company a "market outperform" rating in a research report on Friday, May 8th. Wall Street Zen cut Prothena from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of Prothena in a report on Friday, July 24th. Finally, Weiss Ratings upgraded Prothena from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.75.
Get Our Latest Stock Analysis on Prothena
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Prothena by 2.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 90,795 shares of the biotechnology company's stock worth $889,000 after buying an additional 2,251 shares during the last quarter. ADAR1 Capital Management LLC grew its holdings in shares of Prothena by 8.5% during the first quarter. ADAR1 Capital Management LLC now owns 1,581,443 shares of the biotechnology company's stock valued at $15,372,000 after buying an additional 123,679 shares during the last quarter. Rubric Capital Management LP increased its position in shares of Prothena by 36.0% in the 1st quarter. Rubric Capital Management LP now owns 5,000,000 shares of the biotechnology company's stock valued at $48,600,000 after acquiring an additional 1,322,669 shares during the period. Quantinno Capital Management LP increased its position in shares of Prothena by 39.3% in the 1st quarter. Quantinno Capital Management LP now owns 144,299 shares of the biotechnology company's stock valued at $1,403,000 after acquiring an additional 40,681 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Prothena by 39.5% in the 1st quarter. Renaissance Technologies LLC now owns 607,515 shares of the biotechnology company's stock valued at $5,905,000 after acquiring an additional 172,000 shares during the period. Hedge funds and other institutional investors own 97.08% of the company's stock.
About Prothena
(
Get Free Report)
Prothena Corporation plc is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for neurodegenerative and rare diseases driven by misfolded proteins. The company’s research focuses on immunotherapies and small molecules designed to target and clear disease-causing protein aggregates. Prothena leverages proprietary protein engineering and antibody discovery platforms to advance candidates through preclinical and clinical stages.
The company’s most advanced program is an antibody targeting aggregated alpha-synuclein for the potential treatment of Parkinson’s disease, currently in mid-stage clinical trials.
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